Monte Mohr: More things you never want to say to your Realtor

Nov. 3, 2013

Written by

Monte Mohr

For The Tennessean

Last week we discussed three things you NEVER want to say to your listing agent. A quick rundown of those are:

1. I will not lower the price of my home.

The truth is, your home is only worth what it is worth. What someone will pay for it. Telling your agent you expect an amount that is not justifiable by local comparables will many times chase a good agent away from the task of selling it, and you end up with a new agent that is not equipped to get the job done.

2. I only want to hear serious offers.

Your listing agent has a legal obligation to present all offers that are received. But in addition, you want to hear all offers made so you know what the market is saying about your home. Now listen.

3. I donít care how long my home stays on the market.

Hereís the truth: The longer your home sits on the market, the lower the final sales price will be.

And, now, the final two things you never want to say to your agent are:

4. Iím selling because of a distressed situation.

As a seller, itís never beneficial to let someone know that you really need to sell your house. In doing so, youíll attract lower offers because buyers think they can take advantage of the situation. Now, itís easy to reveal certain things in casual conversation with your listing agent, but itís better not to mention that youíre selling because you lost your job (or some other financial hardship), or because youíre going through a divorce, or perhaps youíre facing a serious illness. These types of situations tempt some agents to show too much urgency in listings, advertisements, or during showings and open houses.

5. Thereís only a certain sort of buyer that appeals to me.

There have been federal laws governing equal housing rights since the 1960s. These laws make it illegal for home sellers to discriminate based on race, sex, religion and the like. Sounds pretty obvious and straightforward, right? Well, itís easier than you think to step across those lines. Suppose you mention that youíd really like a family with children to move into the house. If your agent then tries to discourage anyone from making an offer based on their family makeup, youíve just violated federal law and you could find yourself involved in a discrimination lawsuit.

Next week, we are going to answer Jennyís question of ďHow do I get my teenage kids to keep their rooms clean while our home is on the market?Ē